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Meta asks investors to be ‘patient’ as profit plummets and revenue declines 4 per cent

Mark Zuckerberg did little to ease investor concerns about the near-term health of the social-media giant as costs escalated and its core advertising business weakened in Q3

Meta has landed itself in a risky situation, pouring billions of dollars into building its lofty metaverse plans at the same time as its core advertising business is faltering.

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The tech giant’s revenue decline worsened in the third quarter of 2022 and profits plummeted 52% to $4.4 billion as it faced a challenging rea


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